A buyer's agent who specialises in working with overseas investors can assist people living overseas who are looking to Australia for investment properties. There are no property purchasing restrictions for Australians living overseas, while foreign nationals who hold a permanent residence visa may also purchase selected property.
Those who hold a temporary visa that allows residence of more than 12 months are allowed to purchase property, but the Foreign Investment Review Board (FIRB) must approve it. Your buyer's agent can prepare all the paperwork needed.
Government restrictions apply when the purchaser is not a resident and has no visa. The purchase application must also be approved by the FIRB. If the property is newly constructed and never sold or rented, then approval is given so long as the purchase is no more than 50% of dwellings in the development. Vacant residential land is usually approved, but building must commence within 12 months of purchase.
If you are unable to personally inspect the property, you need to have digital images and a floor plan sent to you by a trusted source. A property manager who can select decent tenants and a local solicitor to manage the purchase are also necessary.
Visit Saville Australia (http://www.savilleaustralia.com.au) for more information on property investment and luxury apartments for sale in Perth, Australia.
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